* Fired with cause - gross reason: sexual harassment, illegal activities, etc.
* Fired - incompetence, laziness, other ineptitude related specifically to the employee, but nothing illegal
* Laid off - financial reasons or business direction reasons for the company. (Some people who are borderline performers get swept up into lay offs, which helps the employee save face.)
In the latter 2 cases, people generally get severance arrangements. In the last case, people are generally eligible for re-hire should conditions or direction change.
